Thu Dec 6, 2018 9:47am EST
Dec. 6, 2018 14:47 UTC

LONDON--(BUSINESS WIRE)-- The global liner hanger systems market is expected to post a CAGR of close to 5% during the period 2019-2023, according to the latest market research report by Technavio.

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Technavio has released a new market research report on the global liner hanger systems market for th ...

Technavio has released a new market research report on the global liner hanger systems market for the period 2019-2023. (Graphic: Business Wire)

A key factor driving the growth of the liner hanger systems market is the global increase in rig count. As global crude oil prices gradually recovered to USD 70.7 per barrel in July 2018 after the sudden price plunge in 2016, the average active rig count increased by 38%. The increase in the global rig count and the use of liner hanger systems to reduce total rig time in a well will lead to better productivity and enhance the oil recovery from the reserve. Therefore, the global liner hanger systems market is expected to grow with the increase in the number of active rigs across the world during the forecast period.

This market research report on the global liner hanger systems market 2019-2023 also provides an analysis of the most important trends expected to impact the market outlook during the forecast period. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.

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In this report, Technavio highlights the increase in deepwater and ultra-deepwater exploration as one of the key emerging trends in the global liner hanger systems market:

Global liner hanger systems market: Increase in deepwater and ultra-deepwater exploration

With the increase in deepwater and ultra-deepwater activities, many market vendors are introducing liner hanger systems that are specifically meant for such activities. For example, Halliburton’s deepwater liner hanger system, XtremeGrip, set a record for the longest installed expandable liner hanger system in the world. The system was installed at a depth of 30,924 feet in the Gulf of Mexico. Thus, the development of liner hanger systems for deepwater and ultra-deepwater explorations and the increase in deepwater and ultra-deepwater E&P projects support the growth of the global liner hanger systems market during the forecast period.

“The equipment related to drilling is undergoing improvements with innovations to meet the needs of the oil and gas companies. Liner hanger systems have different areas of applications, including offshore, onshore, vertical, and horizontal wells. The major market vendors that provide liner hanger systems are constantly upgrading the reliability of the equipment, which supports the growth of the market during the forecast period,” says a senior analyst at Technavio for research on oil and gas.

Global liner hanger systems market: Segmentation analysis

This market research report segments the global liner hanger systems market by applications (onshore and offshore) and geographical regions (APAC, EMEA, and the Americas).

The Americas led the market in 2018 with a market share of close to 51%, followed by APAC and EMEA respectively. The Americas is expected to continue to dominate the market with the highest incremental growth, followed by APAC and EMEA.

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Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.

Some of the key topics covered in the report include:

Market Landscape

  • Market ecosystem
  • Market characteristics
  • Market segmentation analysis

Market Sizing

  • Market definition
  • Market size and forecast

Five Forces Analysis

Market Segmentation

Geographical Segmentation

  • Regional comparison
  • Key leading countries

Market Drivers

Market Challenges

Market Trends

Vendor Landscape

  • Vendors covered
  • Vendor classification
  • Market positioning of vendors
  • Competitive scenario

About Technavio

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists of more than 10,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team at media@technavio.com.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
www.technavio.com


Source: Technavio Research

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Technavio has released a new market research report on the global liner hanger systems market for the period 2019-2023. (Graphic: Business Wire)

View this news release and multimedia online at:
http://www.businesswire.com/news/home/20181206005531/en



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